If a student obtains $5,000 in debt on his or her credit card carrying the average rate of eighteen percent interest and that student only makes the monthly wallet can’t afford. When making a purchase with a credit card, it’s important to remember a credit card primarily acts as a loan that needs to be paid back. Nowadays, credit cards are nothing out of the ordinary: many people even have a few of them. This reality is, of course, with good reason. Credit cards can be invaluable tools for college students. Dangers of Credit Cards Essay ...10/14/2012 The Truth ... Inga Gudmundsson 15 October 2008 English 100 Analytical Essay Debt Credit card debt is one of this nation’s leading internal problems, and it has been for around the last 3-4 decades. For example, it allows you to make large payments without the safety risk of carrying around cash. This loan has an annual percentage rate (APR) which is the rate you’ll pay if interest charges accrue, according to the terms of your credit card agreement. Credit cards are potentially dangerous, especially for new credit card users, who may be fascinated by the allure of what seems like “free” money. Using a credit card is more convenient than cash, and may help a young adult build credit that will be useful throughout his adult life. The dangers of using a credit card. It is true that a credit card offers many advantages. The Convenience of Credit Cards Essay 915 Words | 4 Pages.
Credit Cards: The Potential Dangers. However, not too long ago the credit cards were used only to pay for specific merchandises. Disadvantages Of Credit Cards. But we buy it. Credit card debt is a major problem for some college students because it can easily get out of control. We use credit cards everyday; either to pay at the grocery store for food, online merchandise from other countries, or to pay the tuition for the school. Even some experienced credit card users still fall into credit card traps.
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